Paramount price target raised to $25 from $22 at Seaport Research

Seaport Research raised the firm’s price target on Paramount Global class A (PARAA) to $25 from $22 and keeps a Buy rating on the shares. The firm kept its $15 price target on shares of Paramount Global (PARA). The firm remains positive on both stocks amid strategic and financial buyer interest in some or all of Paramount’s assets after the Wall Street Journal reported Apollo (APO) has interest is Paramount Studios alone for $11B. At these “historically low stock price levels,” the public markets could effectively be valuing the film studios at $3B, the analyst tells investors in a research note. Seaport thinks the $15-$16 level for Paramount shares is based on an “extremely dire” multiple on the TV media networks and “is a very base level for the shares to be trading at in the near-term.”